Movers & Shakers: Martha Pomerantz and Julie Krieger

Martha Pomerantz and Julie Krieger, Evercore Wealth Management

Title: Partners, co-managers and co-founders, Minneapolis office

Martha Pomerantz and Julie Krieger, co-founders of Evercore Wealth Management's Minneapolis office, are expanding their focus on working with women as they mark the firm's third year in business.

In addition to their core business of wealth management, Pomerantz, 54, and Krieger, 51, have launched a Wise Women series, featuring small group discussions, speakers and education geared to women and financial issues.

"Unfortunately because of life expectancies sometimes you end up with more women with the wealth at the end of the day," Krieger said. "One client said this was the first time she felt like she was able to talk about money with people …. in a setting where they were with other women."

Krieger, a wealth adviser, and Pomerantz, a portfolio manager, founded Evercore's Minneapolis office in September 2011 after they and other senior members left the former Lowry Hill wealth management firm that Wells Fargo consolidated with other regional offices. Evercore works with families who have $5 million or more in assets.

"We're really committed to our clients and wanted to make sure we could service them in a more independent environment," Pomerantz said of the move to Evercore.

Evercore, based in New York, assigns two senior people to each client, one to handle investments, the other to advise on issues including estate and gift planning, charitable planning and retirement planning, Pomerantz said. "It's distinct from other financial services relationships, where there usually is a key person but there aren't necessarily a professional on both sides of the business," Pomerantz said.

Q: Do you recommend passive or active investment management?

A: Pomerantz: I'm a big proponent of active management. There can be periods when the broad market is not advancing and there are always investment opportunities below the surface if you know what you're looking for. It's a huge advantage for particularly a family that has means because you need to have a well-diversified portfolio.

Q: How do you approach charitable giving?

A: Krieger: One of the most important things when we talk about charitable planning is to listen to the client to get a good understanding of what is important to them, what they want to give back to and what they see as the legacy they could leave.

Q: What's your advice on rebalancing a portfolio?

A: Pomerantz: Think about setting an asset allocation that's appropriate for your personal circumstances and making sure there's enough money on the sidelines so that if there is volatility in the market it doesn't make you nervous and doesn't provoke you to do the bad thing — sell when the market is down.

Todd Nelson